In a series of tweets, Sun shared the details of the attempted perpetration that needed a vital step and joint effort of other parties, including some cryptocurrency exchanges to put under control.
In his statement, he has promised to withdraw all the votes from the cryptocurrency exchanges involved as soon as possible.
He shared this, “STEEM has successfully defeated the hackers & all funds are super SAFU. Steem Network and Steemit community is now stronger than ever since we united & solved the difficulties!”
— Justin Sun (@justinsuntron) March 3, 2020
Over the past few hours, there has been unrest among the Steem community members over the hostile takeover of Steem blockchain.
The accusation was majorly directed at Justin Sun, Binance and Huobi. However, this recent clarification is expected to put the tension to rest.
Details of the Malicious Hackers’ Perpetration on Steem as Shared By Justin Sun
On Feb 22, some malicious hackers froze 65 million STEEM legally owned by Steemit, the core STEEM developers. When we found out, the hackers already hijacked STEEM & threatened to nullify the existing STEEM. We had a difficult choice.
We double confirmed w/ lawyers & were told this was definitely a criminal activity from the hackers who froze over 10 million dollars worth of STEEM & threatened to destroy the assets. The risk of nullifying the STEEM network puts every STEEM holders’ interest in danger.
Such actions are against every aspect of the core value of humanity & decentralization & sanctity of private property. We needed to act immediately to safeguard the STEEM blockchain & ecosystem when we still had the chance.
We knew it would be a complicated process since we needed to control the network for a short period of time, but we had no choice. Our sole intent was to secure Steemit’s stake & STEEM holders’ interest. Our intention was not to control the STEEM network.
We will commit to withdrawing the votes ASAP once we’re sure malicious hackers can’t sabotage STEEM anymore & will give the voting rights back to the community. All exchanges’ votes will be withdrawn soon. Shoutout to all the exchanges & parties who helped us save STEEM!
To avoid hackers’ retaliation & to protect the safety of the overall network, we had no choice but to keep our actions undercover. However, transparency is our #1 priority so we shared a post w/ details right after securing the network.
Misleading comments re us collaborating w/ exchanges on a hostile takeover is false. Our intention was never to take over the network & all parties’ votes will be withdrawn. We wanted to protect the sanctity of private property & the interests of all from malicious hackers.
We’re devoted to the continued development of the Steem Network, bringing more developers, users and content to Steemit, and more rewards to the community members. Super excited about the upcoming roadmap.
My deepest apologies to the community, all the exchanges, & various parties involved for this disturbing hack incident. Thanks for your support to Steemit and Steem Network. Always STEEM ON! CZ Binance, Binance, Huobi, Poloniex.